Strategic Financial Concepts LLC Takes $301,000 Position in Hercules Capital, Inc. (NYSE:HTGC)

Strategic Financial Concepts LLC purchased a new position in Hercules Capital, Inc. (NYSE:HTGC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,300 shares of the financial services provider’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HTGC. PFG Investments LLC boosted its position in Hercules Capital by 641.2% in the first quarter. PFG Investments LLC now owns 109,511 shares of the financial services provider’s stock valued at $2,020,000 after buying an additional 94,736 shares in the last quarter. Accel Wealth Management acquired a new position in shares of Hercules Capital in the 1st quarter worth approximately $268,000. Abundance Wealth Counselors grew its position in Hercules Capital by 7.9% during the 1st quarter. Abundance Wealth Counselors now owns 50,978 shares of the financial services provider’s stock worth $941,000 after acquiring an additional 3,750 shares during the last quarter. Monument Capital Management acquired a new stake in Hercules Capital during the 1st quarter valued at $351,000. Finally, Naviter Wealth LLC bought a new position in Hercules Capital in the 1st quarter valued at $1,701,000. Institutional investors own 19.69% of the company’s stock.

Hercules Capital Trading Down 0.5 %

NYSE:HTGC traded down $0.09 during trading hours on Tuesday, hitting $19.13. The stock had a trading volume of 658,169 shares, compared to its average volume of 891,097. The business’s 50 day moving average is $18.35 and its 200-day moving average is $17.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.75 and a current ratio of 2.75. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 8.28 and a beta of 1.34. Hercules Capital, Inc. has a one year low of $12.40 and a one year high of $19.26.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $122.60 million during the quarter, compared to analyst estimates of $117.48 million. Hercules Capital had a net margin of 73.26% and a return on equity of 18.60%. The firm’s revenue was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. Sell-side analysts anticipate that Hercules Capital, Inc. will post 2.05 EPS for the current fiscal year.

Hercules Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.04%. The ex-dividend date of this dividend was Tuesday, February 27th. Hercules Capital’s dividend payout ratio is currently 69.26%.

Wall Street Analysts Forecast Growth

HTGC has been the topic of several recent research reports. Wells Fargo & Company raised their price target on Hercules Capital from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Piper Sandler lifted their price target on shares of Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. JMP Securities increased their price objective on shares of Hercules Capital from $18.00 to $19.00 and gave the company a “market outperform” rating in a report on Tuesday, March 26th. Keefe, Bruyette & Woods raised their price objective on shares of Hercules Capital from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Finally, Compass Point cut shares of Hercules Capital from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $17.50 in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

Hercules Capital Company Profile

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.